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Knowles Signs Definitive Agreement to Divest Timing Device Business

Knowles Corp (KN)  More Company Research Source: Business Wire
Last knowles corp earnings: 10/24 04:05 pm Check Earnings Report
US:NYSE Investor Relations: investor.knowles.com
PDF Company enters Into Definitive Agreement To Sell Timing Device Business for $130 million ITASCA, Ill.--(BUSINESS WIRE)-- Knowles Corporation (NYSE: KN), a market leader and global supplier of advanced micro-acoustic, audio processing, and precision device solutions, today announced that it has entered into a definitive agreement to sell its timing device (oscillator) business, part of the Precision Devices segment, to Microsemi Corporation (Nasdaq: MSCC), a leading supplier of semiconductor solutions, for $130 million in cash. The transaction is expected to be slightly dilutive to earnings and to close in the current quarter, subject to regulatory approval and customary closing conditions. “The divestiture of this non-strategic business enables us to increase our focus on growth platforms where we have strong market positions and attractive margin profiles,” said Jeffrey Niew, president and CEO o [Read more]

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